China Gold International Resources Announces 2024 Results and New Dividend Policy
Vancouver, State/Province -- March 27, 2025 -- NewsGenie -- China Gold International Resources Corp. Ltd. (TSX: CGG; HKEX: 2099) has released its 2024 year-end results and declared a dividend, marking a year of significant financial and operational improvements.
Financial and Operational Highlights:
- Fourth Quarter 2024: Revenue surged by 312% to US$293.6 million, compared to US$71.3 million in the same period of 2023. Mine operating earnings increased by US$124.1 million, reaching US$122.2 million. Net income rose to US$68.3 million, an increase of US$85.8 million. Cash flow from operations improved to US$62.7 million. Gold production increased by 137% to 60,406 ounces, and copper production reached 44.1 million pounds.
- 2024 Annual Results: Revenue increased by 65% to US$756.6 million. Mine operating earnings rose to US$186.9 million, an increase of US$106.5 million. Net income was US$65.3 million, up by US$88.3 million. Cash flow from operations increased by US$305.3 million to US$306.9 million. Gold production increased by 10% to 162,652 ounces, and copper production increased by 139% to 105.7 million pounds.
New Dividend Policy:
The company is introducing a new dividend policy that includes a base dividend of 30% of the net profit from the preceding financial year, paid annually. Additionally, a variable component allows for special dividends based on market conditions and available funds. For the year ended December 31, 2024, a basic dividend of US$0.05 per share and a special dividend of US$0.03 per share have been declared, totaling US$0.08 per share, payable on June 18, 2025, to shareholders of record as of April 23, 2025.
Chairman and CEO Chenguang Hou commented, "2024 has been a year of overcoming challenges and reigniting growth... We have also established a balanced shareholder return framework."
About China Gold International Resources:
China Gold International Resources operates the Chang Shan Hao Gold Mine and the Jiama Copper-Gold Polymetallic Mine. The company aims to increase shareholder value through production growth, resource expansion, and acquisitions.